Cryptocurrency Q&A
Is Bybit a hot or cold wallet?
Is Bybit a hot or cold wallet?
BlockchainLegend
Tue Mar 18 2025
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6
answers
1052
Bybit is not specifically classified as a hot or cold wallet, but rather as a cryptocurrency exchange platform that offers various trading services including leveraged trading, spot trading, and derivatives trading. It provides wallets for users to store their digital assets within the platform, which may have features of both hot and cold storage depending on how the assets are managed and secured.
6 answers
Chloe_thompson_artist
Thu Mar 20 2025
Bybit ensures that the majority of funds are kept in cold wallets.
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Dario
Thu Mar 20 2025
Cold wallets are disconnected from online systems.
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MountFujiView
Thu Mar 20 2025
This approach minimizes the risk of unauthorized access and theft.
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DigitalBaron
Thu Mar 20 2025
Bybit employs multi-layered protection to safeguard the cryptocurrency it stores.
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CherryBlossomGrace
Thu Mar 20 2025
This security measure is similar to those employed by other major crypto exchanges.
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